sold: San Rafael CA Real Estate (August 2009 Home Sales Update)
- 08/17/09 09:16 AM
The big news in San Rafael real estate this past month revolved around the sale of Carlos Santana’s 1.7 acre, 7,000 square foot estate, which sold for $4.185 million after a short two weeks on the market. Congratulations Carlos! Meanwhile, San Rafael listing prices experienced a brief rise earlier this Summer, but have again begun a downward shift over the past few weeks. By comparison, asking prices in Novato have been rising for several months, leading many to beleive that the bottom has formed in Novato. It does not appear this phenomenon is being replicated in San Rafael.
[Click HERE for the … (0 comments)
sold: Novato Real Estate (August 2009 Home Sales Report)
- 08/17/09 09:13 AM
Last month, for the first time since I began writing Novato monthly updates back in 2006, I stated that it appears that the Novato, CA. market (for single family homes) seems to be improving in two meaningful ways. Certainly, sales have risen from last year and we have several months of increasing sales (as the inventory of short sales and foreclosures is quickly snapped up by motivated buyers). But, perhaps even more importantly from the perspective of home owners, it also appears that prices at the entry level (e.g., properties priced below $500,000) have bottomed out. As evidenced by the chart below,the 90-day rolling average … (0 comments)
sold: Luxury Homes Report (July 2009–Sales and Inventory Analysis)
- 07/30/09 03:16 AM
Marin County, CA’s luxury real estate market segment is slow and remains weighted towards homes priced under $4 million — just one home priced over $4 million sold in June 2009 and it was an off-the-market sale. The number of sales in June 2009 is off by over 40% from June 2008, yet the average price of sold homes is down just 3% from last year. In Marin, only the homes with special locations, views, or features seem to be getting significant attention. For a detailed snapshot of current national trends from the Institute for Luxury Home Marketing dated July 19, … (0 comments)
sold: Belvedere & Tiburon CA Real Estate Market Report (July 2009 Home Sales Update)
- 07/28/09 03:49 AM
Consistent with last month, the Tiburon and Belvedere real estate markets remain in a state of semi-slumber pending further clarity regarding the equities and housing markets. There are currently 110 active listings in the 94920 zip code, which covers Belvedere and Tiburon. Twenty-three of these properties are priced over $5 million with just one such home going into escrow in the past 3 months). Meanwhile, there is some limited activity in the lower price bands, including 2 sales in the $2 million to $3 million range. In June 2009, we had 10 sales compared with 7 sales in May 2009 (same … (0 comments)
Novato’s Bel Marin Keys provides a carefree and luxurious waterfont lifestyle in Southern Novato, just 30 minutes from San Francisco. Few places are as magical as Bel Marin Keys. This unique community of approximately 700 homes consists of a series of channels and lagoons flanked by homes and surrounded by open spaces. Not only can you enjoy the lagoon, but if that proves too confining, you also have nautical access to the San Francisco Bay (Giants game anyone?). Homes in Bel Marin Keys range in size from about 1,750 sq. ft. to about 2,250 … (0 comments)
Pointe Marin is a newer housing development in desirable Southern Novato, Marin County (which is about 20 miles north of the Golden Gate Bridge and the varied offerings of San Francisco, California). It is favored by families and retireess alike and is undoubtedly one of Novato’s most sought-after neighborhoods. This Novato neighborhood is quiet and relaxed, with wide streets and lots of cul-de-sacs. Many of Pointe Marin’s homes back up to open space and all are within close proximity to shopping, transportation, HWY 10, hiking trails, water, sports field, parks, and … (0 comments)
sold: Hamilton Field, Novato CA Real Estate and Homes
- 07/23/09 04:07 PM
Hamilton Field, Novato CA Real Estate and Homes Hamilton Field in Novato (Marin County), California, is a model community filled with a vitality and energy all its own. Since its inception as a planned community about ten years ago, Hamilton Field has seen vast improvements and is now a magnet community for folks of all different ages and backgrounds.
Hamilton Field is a jewel. The former military base, which was used by the Army and Air Force from the 1930’s to the 1970’s, is now a delightful community of over 1,000 homes. It is, to my mind, one of … (0 comments)
sold: San Rafael CA Real Estate Market Report (July 2009 Home Sales Update)
- 07/18/09 09:14 AM
As Summer sets in, San Rafael CA’s real estate market has slowed a bit. It is increasingly fueled by foreclosures and short sales. The low end (under $600K) remains hot (67% of homes in escrow, compared with 64% in June 2009) and the $600K to $800K price band has seen steady activity with 35% of homes in escrow. Increased affordability, low interest rates (rates are down from the time of last month’s report), an increased presence of FHA loans, and a shifting mindset by both buyers and sellers, are all resulting in a strengthening market. Additionally, the $8K tax credit for … (0 comments)
sold: Mill Valley CA. Real Estate Market Report (July 2009 Home Sales Update)
- 07/18/09 09:10 AM
The Mill Valley real estate market remains predictably unpredictable — after logging 17 sales in May 2009, we had a robust 29 sales in June 2009. Typically, sales slow down as Summer begins and families focus more on vacations and outside activities. That slowdown will be reflected in July sales numbers. Nonetheless, there is serious value in Mill Valley right here, right now. This is true for every price band. Note to buyers: write offers! A closed mouth does not get fed. If you would like my Mill Valley Hot List, call or e-mail me: (415) 350-9440 | Kyle@MillValley101.com. The above … (0 comments)
sold: Novato Real Estate Market Update (July 2009 Home Sales Report)
- 07/18/09 03:37 AM
The Novato single family home market seems to be forming a bottom. Prices appear to be leveling out and the percentages of entry level homes in escrow are very high. I know that many foreclosure sales and short sales are getting multiple offers. I have several clients who have faced as many 9 to 20 offers in competition for a single family home. This activity bodes well for sales in the higher price bands. Moreover, in June 2009, Novato had 38 sales (up from 32 in June 2008). Indeed, this reflects an upward trend over the past few months—May 2009 had … (0 comments)
sold: Marin Luxury Properties Report / Marin County, California, Luxury Homes Report (June 2009–Sales and Inventory Analysis)
- 07/01/09 03:20 AM
As noted in prior reports this year, Marin County, CA's luxury segment is slow and currently weighted towards homes priced under $4 million. In fact, not a single home priced over $4 million sold in May 2009 and just 2 are currently in escrow (although that could change in a moment as the domino effect is very real in home sales). Of course, the luxury home slump exists throughout the country as affluent buyers wait for a signal to buy. For a detailed snapshot of current national trends from the Institute for Luxury Home Marketing dated June 14, 2009, click here. … (0 comments)
sold: Tiburon & Belvedere Real Estate Market Report (May 2009 Home Sales Update)
- 07/01/09 03:17 AM
As inventory collects in Southern Marin's toniest locales (Belvedere and Tiburon), we are starting to see and hear about more offers being submitted. Certainly, sellers frustrated by the lack of activity have in some cases taken what they could get. Most recognize that our new economy, post-Equity Market Meltdown, has shifted the pricing and value expectations of buyers. While I perceive a high level of pent up buyer demand, buyers seem to be willing to wait things out. Much of this behavior is based on expectations of further price declines weighed against likely increased interest rates in the near to mid-term … (0 comments)
sold: Novato CA Real Estate Market Update (June 2009 Home Sales Report)
- 06/21/09 05:04 AM
This month, Novato's absorption rate fell to an unbelievable 3.04 months. That is low. Absorption rates, along with days on market averages, provide a telling insight into the overall state of the market. As I have noted before, value properties can be found in virtually ALL price ranges in Novato. Pricing in most neighborhoods is back to what it was in 2002-2003. Note that available inventory in the entry level price ranges is way down and the percentages of homes in escrow is rising fast. For example, 72% of homes in Novato priced under $500K are in escrow (up from 63% in May 2009); … (0 comments)
sold: Marin County, CA. Real Estate Update — May 2009 (Homes For Sale & Price Ranges)
- 05/21/09 03:58 PM
The leading indicator of future sales is the number of homes in escrow at a given time. We have experienced over 60 new escrows in five of the past seven weeks and over 70 for the past three weeks. May 2009 new escrows will likely surpass the levels of April and May 2008. As you can see from the below chart (which goes back 6 months), the number of escrow is up 105% and sales are up 30%. The upsurge in sales and escrows is seasonal, but also due to low 5% interest rates on conforming loans right now. We are also … (0 comments)
sold: Tiburon & Belvedere Real Estate Market Report (May 2009 Home Sales Update)
- 05/21/09 03:53 PM
As inventory collects in Southern Marin's toniest locales (Belvedere and Tiburon), we are starting to see and hear about more offers being submitted. Certainly, sellers frustrated by the lack of activity have in some cases taken what they could get. Most recognize that our new economy, post-Equity Market Meltdown, has shifted the pricing and value expectations of buyers. While I perceive a high level of pent up buyer demand, buyers seem to be willing to wait things out. Much of this behavior is based on expectations of further price declines weighed against likely increased interest rates in the near to mid-term … (0 comments)
sold: Mill Valley CA. Real Estate Market Report (May 2009 Home Sales Update)
- 05/21/09 03:51 PM
The median price per square foot has dipped to about $575 per sq. ft. (which is down from well over $800 in mid-2007). While some buyers believe prices may slip a bit more, as noted above, most appreciate the fact that interest rates are very appealing. Indeed, mortgage math punishes those who don't lock in at or near the lowest rate possible. For example, if prices dip another 5% and interest rates go up just 1%, the monthly payment would increase rather significantly for an $800K home with 20% down (call me for exact numbers relating to a given situation). Down … (0 comments)
sold: Novato CA Real Estate Market Update (May 2009 Home Sales Report)
- 05/15/09 03:17 AM
While the pipeline of new properties and overall inventory levels increases dramatically throughout most of Marin County, CA (this is the prime selling season, after all), Novato's inventory level has remained very steady over the past 3 months. Just 151 single family homes are currently for sale. There were 152 homes for sale in April 2009 and 142 in March 2009. Novato's absorption rate (e.g., the number of months of inventory currently available in Novato) again dipped dramatically. In March, Novato had 7.9 months of inventory, in April there was 6 months inventory, and today there just 4.97 months of inventory. … (0 comments)
sold: San Rafael CA Real Estate Market Report (May 2009 Home Sales Update)
- 05/15/09 03:15 AM
As noted last month, San Rafael CA's real estate market is increasingly fueled by foreclosures and short sales. The low end (under $600K) is just on fire with "fire sale" prices. We are currently experiencing an amazing 69% pending ratio for homes priced at or below $600K (up from 31% in February). San Rafael's bread and butter homes, priced between $600K and $800K continue selling at a moderate pace with 29% of homes in escrow. Increasing affordability, low interest rates on conforming loans, an increased presence of FHA loans, and a shifting mindset are all resulting in a strengthening market. Additionally, … (0 comments)
sold: Best Location in South Gate, Hamilton Field (Novato CA)
- 04/27/09 11:04 AM
This is a special home with immutable qualities not found in other South Gate at Hamilton Field offerings. Most signifricantly, this gorgeous home is on the levee and has no immediate neighbor to the south - very rare.
Unique opportunity to live in Hamilton Field's coveted South Gate neighborhood in the most sought after location - on the levee. Few South Gate homes on the levee have come to market in the past 3 years. The last one that did sold within a couple of weeks. This is your chance! Great Room configuration. Kitchen with granite tile counters, dual-zone wine … (0 comments)
sold: Marin County, California, Luxury Homes Report (April 2009–Sales and Inventory Analysis)
- 04/19/09 03:57 PM
Despite my self-imposed limited media diet, I do read headlines. And the headlines are becoming more optimistic. This is a prerequisite for increased buyer confidence. I remain convinced that with minimal social proof, buyers will return to the market and pent-up demand will create a surge in sales figures. Increased conforming loan limits and a pronounced level of increased affordability across the board is a recipe for sales. Buyers with 25% down (and who otherwise qualify) will be able to obtain top-shelf financing for purchases of a little over $1.6 million. While that is not “Luxury” territory here in Marin, many … (0 comments)
Christie's Great Estates | Pacific Union International
Office: (415) 448-1118
Mobile: (415) 350-9440
Real Estate information about Marin County, California--Mill Valley, Sausalito, Tiburon, Belvedere, Corte Madera, Larkspur, Greenbrae, Kentfield, Ross, San Anselmo, San Rafael, and Novato. Community descriptions, sales information, and more.
The big news in San Rafael real estate this past month revolved around the sale of Carlos Santana’s 1.7 acre, 7,000 square foot estate, which sold for $4.185 million after a short two weeks on the market. Congratulations Carlos! Meanwhile, San Rafael listing prices experienced a brief rise earlier this Summer, but have again begun a downward shift over the past few weeks. By comparison, asking prices in Novato have been rising for several months, leading many to beleive that the bottom has formed in Novato. It does not appear this phenomenon is being replicated in San Rafael.
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